ASFA/FTSE introduce new index
The Association of Superannuation Funds of Australia (ASFA) and the FTSE Group have launched the FTSE ASFA Australia Index Series, claimed to be the industry standard tax-adjusted benchmarks for Australian investors.
The development of the 36-index series was spearheaded by super funds' demand for benchmarks that allow them to assess portfolio performance on an after-tax basis, according to ASFA chief executive Pauline Vamos.
It addresses the need for super fund managers to better align investment decisions with their tax positions, providing options for different tax categories including tax exempt, superannuation funds, mid-tax bracket and high-tax bracket.
"We see tremendous benefit for super funds to adopt these tax-adjusted benchmarks and progress the dialogue with their fund managers around tax aware decision making and after-tax reporting, particularly as the industry continues its push towards compulsory after-tax reporting."
The series can also be used as the basis for the creation of index-linked products such as exchange-traded funds, structured products and other derivatives, Vamos said.
Additionally, she said investors have a new formidable alternative for non tax-adjusted Australian equity benchmarks, which are part of the FTSE ASFA Australia Index Series.
An independent committee of senior superannuation investment professionals and finance industry experts will govern the ongoing management of the series.
Recommended for you
Australian super funds have extended their winning streak into September, as strong global equities and resilient long-term returns boost member outcomes.
The super fund has appointed long-serving technology leader Richard Exton to its executive team, underscoring the fund’s digital transformation priorities.
Valuations of the major US tech companies are becoming elevated, according to UniSuper’s chief investment officer John Pearce, but not yet at bubble territory.
The country’s largest super fund has launched a £500 million UK housing platform to expand its living sector investments and support economic growth.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
215.17 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
118.15 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
75.00 3 y p.a(%)
4
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
61.11 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
60.93 3 y p.a(%)
